McClure’s 500 Startups Sets Its Sights On $50M Fund

David McClure has alluded rather vaguely during recent public appearances to a new fund at 500 Startups. Now we know for sure.

500 Startups, at which McClure is founding partner and Sith Lord, filed with the Securities and Exchange Commission on Friday for a $50 million second venture capital fund. According to the document, it has not had a first sale.

McClure’s first fund targeted $30 million and has so far invested in 257 companies. It has had 10 acquisitions to date, including Versly to Cisco Systems, TeachStreet to Amazon and Punchd to Google, according to a Friday blog post.

In the blog post, McClure said he promoted Paul Singh and Christen O’Brien to partner and hired Bedy Yang and George Kellerman as venture partners, apparently in preparation for the new fund. TechCrunch notes that Yang and Kellerman will be scouting for investments overseas, including in Brazil and Japan.

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